Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.96 and traded as low as $11.90. Nuveen Quality Municipal Income Fund shares last traded at $11.9550, with a volume of 644,902 shares changing hands.

Nuveen Quality Municipal Income Fund Trading Down 0.1%

The stock has a 50-day moving average of $12.10 and a 200 day moving average of $11.96.

Nuveen Quality Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.0705 per share. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, March 13th.

Insider Buying and Selling at Nuveen Quality Municipal Income Fund

In other Nuveen Quality Municipal Income Fund news, major shareholder Of America Corp /De/ Bank bought 6,374 shares of the stock in a transaction dated Friday, January 2nd. The stock was bought at an average cost of $12.01 per share, for a total transaction of $76,551.74. Following the completion of the purchase, the insider owned 6,374 shares in the company, valued at $76,551.74. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

A number of hedge funds have recently added to or reduced their stakes in NAD. Guggenheim Capital LLC increased its position in Nuveen Quality Municipal Income Fund by 45.9% in the 4th quarter. Guggenheim Capital LLC now owns 2,572,898 shares of the financial services provider’s stock valued at $30,926,000 after acquiring an additional 809,838 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Nuveen Quality Municipal Income Fund by 22.7% during the third quarter. Raymond James Financial Inc. now owns 2,436,790 shares of the financial services provider’s stock worth $28,486,000 after purchasing an additional 450,413 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Nuveen Quality Municipal Income Fund by 8.7% during the second quarter. Bank of America Corp DE now owns 2,659,934 shares of the financial services provider’s stock worth $30,031,000 after purchasing an additional 213,078 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Nuveen Quality Municipal Income Fund by 88.6% during the fourth quarter. NewEdge Advisors LLC now owns 371,835 shares of the financial services provider’s stock valued at $4,469,000 after purchasing an additional 174,652 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Nuveen Quality Municipal Income Fund by 139.4% during the fourth quarter. Jane Street Group LLC now owns 257,220 shares of the financial services provider’s stock valued at $3,092,000 after purchasing an additional 149,761 shares during the last quarter.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund (NYSE:NAD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds, issued by state and local governments across the United States. By focusing on high-quality issuers, the fund aims to balance income generation with prudent risk management.

Launched in July 2022, NAD is managed by Nuveen Asset Management, a subsidiary of TIAA with decades of experience in municipal bond investing.